Classic moneygardener; Revisiting an old post from September 12, 2007.....
List compiled with inspiration from young, (age 25 - 35), friends and relatives (ie they helped me compile this list without realizing they did so)
1. Buy a vehicle without looking at total cost of ownership (financing, gas, insurance,maintenance)
2. Buy a home for your maximum lender pre-approval amount.
3. Do not start an RRSP because you have debts to pay off.
4. Do not make proper (higher interest to lower interest) debt repayment a priority.
5. Maintain a short-term view of your finances.
6. Fail to coherently plan finances around life events.
7. Fail to work as a team with your partner when it comes to your household finances.
8. Fail to realize that how you spend and manage money matters more than how much money you make.